I suppose begging investors to resist the urge to stop peeing their big-boy underwears and hang tight would be a complete waste of time right now.
The Dow lost 634 points yesterday — the sixth biggest decline of all time. Overall:
The fear among investors has reached epidemic proportions, with the sell-off erasing $8.1 trillion — or 14.8 percent of market capitalization — from global stock markets since July 24.
Nobody knows what’s going to happen next. The Dow will probably open slightly up since vultures tend to fly in looking for bargains, but there’s no way of knowing when or if it fall apart.
Suffice it to say, it’s remarkable how close we are to another major recession.
But it’s more remarkable that there aren’t throngs of protesters demanding that all of the Republican conspirators be removed from office.